{"data":{"id":"us/13-cfr-107.210","jurisdiction":"us","citation":"13 CFR 107.210","heading":"Minimum capital requirements for Licensees.","body":"(a) Companies licensed on or after October 1, 1996. A company licensed on or after October 1, 1996, must have Leverageable Capital of at least $2,500,000 and must meet the applicable minimum Regulatory Capital requirement in this paragraph (a), unless lower Leverageable Capital and Regulatory Capital amounts are approved by SBA as part of a Wind-down Plan in accordance with § 107.590(c):\n(1) Licensees other than Early Stage SBICs. Except for Early Stage SBICs, a Licensee must have Regulatory Capital of at least $5,000,000. As an exception to the general rule in this paragraph (a)(1), SBA in its sole discretion and based on a showing of special circumstances and good cause, which includes applicants that are headquartered in an Underlicensed State, may license an applicant with Regulatory Capital of at least $3,000,000, but only if the applicant:\n(i) Has satisfied all licensing standards and requirements except the minimum capital requirement, as determined solely by SBA;\n(ii) Has a viable business plan reasonably projecting profitable operations; and\n(iii) Has a reasonable timetable for achieving Regulatory Capital of at least $5,000,000.\n(2) Early Stage SBICs. An Early Stage SBIC must have Regulatory Capital of at least $20 million.\n(b) Companies licensed before October 1, 1996. A company licensed before October 1, 1996 must meet the minimum capital requirements applicable to such company, as required by the regulations in effect on September 30, 1996. See § 107.1120(c)(2) for Leverage eligibility requirements.","path":["Title 13—Business Credit and Assistance","CHAPTER I—SMALL BUSINESS ADMINISTRATION","PART 107—SMALL BUSINESS INVESTMENT COMPANIES","Subpart C—Qualifying for an SBIC License"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-13.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:18Z","sha256":"54932628543f3efec7441274c978d56735fb44aac2571139aea62b58186a4dca","source_id":"us-cfr","stale":true,"prev":"us/13-cfr-107.200","next":"us/13-cfr-107.230"},"notice":"GroundRules: Original legal text. Not legal advice."}